BAX vs. GEHC: Baxter vs. GE HealthCare Stock Comparison

November 11, 2026

How do Baxter (BAX) and GE HealthCare (GEHC) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Baxter (BAX) and GE HealthCare (GEHC) are both classified in the Health Care Equipment sub-industry within the broader Health Care Equipment & Supplies industry, placing them in the closest GICS peer bucket.

Baxter (BAX) has more than two decades of public-market history since October 27, 1981, whereas GE HealthCare (GEHC) listed on December 15, 2022 and has a much shorter record to draw on.

Company profile comparison for Baxter (BAX) and GE HealthCare (GEHC)
Profile Item	BAX	GEHC
Name	Baxter International Inc.	GE HealthCare Technologies Inc.
Country/Region	United States	United States
GICS Sector	Health Care	Health Care
GICS Industry Group	Health Care Equipment & Services	Health Care Equipment & Services
GICS Industry	Health Care Equipment & Supplies	Health Care Equipment & Supplies
GICS Sub-Industry	Health Care Equipment	Health Care Equipment
Market Capitalization	13.34 billion USD	37.25 billion USD
Currency	USD	USD
Exchange	NYSE	Nasdaq
Listing Date	October 27, 1981	December 15, 2022
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

BAX

GEHC

GSPC

Baxter (BAX) vs. GE HealthCare (GEHC), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Baxter (BAX) and GE HealthCare (GEHC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Baxter (BAX) and GE HealthCare (GEHC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Baxter (BAX) and GE HealthCare (GEHC)
Metric	BAX	GEHC
Total Return (1Y)	45.72%	14.21%
Total Return (3Y, Annualized)	-5.53%	7.01%
Total Return (5Y, Annualized)	-17.96%	--

Risk Profile

Drawdown History

BAX

GEHC

GSPC

Baxter (BAX) vs. GE HealthCare (GEHC), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Baxter (BAX) and GE HealthCare (GEHC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for Baxter (BAX) and GE HealthCare (GEHC)
Metric	BAX	GEHC
Volatility (1Y, Annualized)	42.31%	35.93%
Beta (5Y)	0.62	0.69
Max Drawdown (5Y)	-80.61%	-37.35%
Avg. Volume (3M)	6.53M	3.56M

Risk-Adjusted Performance

Risk-Return Positioning

BAX and GEHC are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Baxter (BAX) and GE HealthCare (GEHC)
Metric	BAX	GEHC
Sharpe Ratio (1Y)	0.98	0.28
Sortino Ratio (1Y)	1.42	0.41

Profitability

ROE (TTM)

Baxter (BAX) reports a negative ROE of -9.04%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile GE HealthCare (GEHC) reports 20.01%, ranking against industry peers normally.

BAX

Health Care Equipment & Services industry group

-9.04%

Max: 47.61%
Q3: 14.36%
Median: 5.45%
BAX: -9.04%
Q1: -10.67%
Min: -47.01%

GEHC

Health Care Equipment & Services industry group

20.01%

Max: 47.61%
GEHC: 20.01%
Q3: 14.36%
Median: 5.45%
Q1: -10.67%
Min: -47.01%

Baxter (BAX) vs. GE HealthCare (GEHC): A comparison of their ROE against the Health Care Equipment & Services industry group benchmark.

Net Margin (TTM)

Baxter (BAX) reports a negative net margin of -6.23%, usually indicating a net loss over the period. Meanwhile GE HealthCare (GEHC) reports 9.95%, ranking against industry peers normally.

BAX

Health Care Equipment & Services industry group

-6.23%

Max: 29.35%
Q3: 9.33%
Median: 2.18%
BAX: -6.23%
Q1: -6.29%
Min: -28.46%

GEHC

Health Care Equipment & Services industry group

9.95%

Max: 29.35%
GEHC: 9.95%
Q3: 9.33%
Median: 2.18%
Q1: -6.29%
Min: -28.46%

Baxter (BAX) vs. GE HealthCare (GEHC): A comparison of their net margin against the Health Care Equipment & Services industry group benchmark.

Operating Margin (TTM)

GE HealthCare (GEHC) at 15.33% operates in the top operating margin quartile, ahead of Baxter (BAX) at 9.88%, which runs around its industry’s norm.

BAX

Health Care Equipment & Services industry group

9.88%

Max: 35.43%
Q3: 14.14%
BAX: 9.88%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

GEHC

Health Care Equipment & Services industry group

15.33%

Max: 35.43%
GEHC: 15.33%
Q3: 14.14%
Median: 6.81%
Q1: -0.28%
Min: -16.29%

Baxter (BAX) vs. GE HealthCare (GEHC): A comparison of their operating margin against the Health Care Equipment & Services industry group benchmark.

Profitability Metrics

Profitability metrics for Baxter (BAX) and GE HealthCare (GEHC)
Metric	BAX	GEHC
ROE (TTM)	-9.04%	20.01%
ROA (TTM)	2.71%	4.99%
Net Margin (TTM)	-6.23%	9.95%
Operating Margin (TTM)	9.88%	15.33%
Gross Margin (TTM)	33.37%	39.29%

Growth

Revenue Growth

Both Baxter (BAX) at 5.72% and GE HealthCare (GEHC) at 4.84% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Baxter (BAX) vs. GE HealthCare (GEHC): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: GE HealthCare (GEHC) reports EPS growth of 4.84%, ranked against its industry; Baxter (BAX) has no EPS growth figure this period.

Baxter (BAX) vs. GE HealthCare (GEHC): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Baxter (BAX) and GE HealthCare (GEHC)
Metric	BAX	GEHC
Revenue Growth (YoY)	5.72%	4.84%
Revenue Growth (3Y CAGR)	3.79%	3.99%
EPS Growth (YoY)	--	4.84%
EPS Growth (3Y CAGR)	--	-0.58%

Financial Strength

Current Ratio (MRQ)

Baxter (BAX) at 1.79 keeps current ratio within its industry’s typical mid-range, while GE HealthCare (GEHC) at 1.30 runs in the tighter-liquidity quartile — a thinner cushion against current liabilities for GEHC.

BAX

Health Care Equipment & Services industry group

1.79

Max: 7.59
Q3: 4.00
Median: 1.98
BAX: 1.79
Q1: 1.37
Min: 0.30

GEHC

Health Care Equipment & Services industry group

1.30

Max: 7.59
Q3: 4.00
Median: 1.98
Q1: 1.37
GEHC: 1.30
Min: 0.30

Baxter (BAX) vs. GE HealthCare (GEHC): A comparison of their current ratio against the Health Care Equipment & Services industry group benchmark.

Debt / Equity (MRQ)

GE HealthCare (GEHC) at 0.88 carries an industry-typical debt-to-equity mix, while Baxter (BAX) at 1.36 uses more debt funding than most peers.

BAX

Health Care Equipment & Services industry group

1.36

Max: 1.88
BAX: 1.36
Q3: 0.91
Median: 0.58
Q1: 0.16
Min: 0.00

GEHC

Health Care Equipment & Services industry group

0.88

Max: 1.88
Q3: 0.91
GEHC: 0.88
Median: 0.58
Q1: 0.16
Min: 0.00

Baxter (BAX) vs. GE HealthCare (GEHC): A comparison of their debt-to-equity ratio against the Health Care Equipment & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Baxter (BAX) and GE HealthCare (GEHC)
Metric	BAX	GEHC
Current Ratio (MRQ)	1.79	1.30
Debt / Equity (MRQ)	1.36	0.88
Net Debt / EBITDA	3.73	2.11

Dividends

Dividend Yield (TTM)

Both Baxter (BAX) at 0.16% and GE HealthCare (GEHC) at 0.17% yield above their industries’ entire benchmark ranges — high enough that dividend safety, not income, becomes the first question.

BAX

Health Care Equipment & Services industry group

0.16%

BAX: 0.16%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

GEHC

Health Care Equipment & Services industry group

0.17%

GEHC: 0.17%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Baxter (BAX) vs. GE HealthCare (GEHC): A comparison of their dividend yield against the Health Care Equipment & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Baxter (BAX) reports payout ratio above 100% at 154.67%, meaning dividends exceeded current-period earnings and sustainability needs extra context. Meanwhile GE HealthCare (GEHC) reports 2.96%, ranking against industry peers normally.

BAX

Health Care Equipment & Services industry group

154.67%

BAX: 154.67%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

GEHC

Health Care Equipment & Services industry group

2.96%

GEHC: 2.96%
Max: 0.00%
Q3: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Baxter (BAX) vs. GE HealthCare (GEHC): A comparison of their payout ratio against the Health Care Equipment & Services industry group benchmark.

Dividend Metrics

Dividend metrics for Baxter (BAX) and GE HealthCare (GEHC)
Metric	BAX	GEHC
Dividend Yield (TTM)	0.16%	0.17%
Dividend Payout Ratio (TTM)	154.67%	2.96%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: GE HealthCare (GEHC) trades at 17.42 times trailing earnings, ranked against its peers, while Baxter (BAX) has no P/E ratio this period.

BAX

Health Care Equipment & Services industry group

Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
Min: 4.21
BAX: --

GEHC

Health Care Equipment & Services industry group

17.42

Max: 80.41
Q3: 47.62
Median: 29.93
Q1: 21.19
GEHC: 17.42
Min: 4.21

Baxter (BAX) vs. GE HealthCare (GEHC): BAX does not report P/E ratio, so it has no value marker; GEHC is benchmarked against the Health Care Equipment & Services industry group.

P/S Ratio (TTM)

On P/S ratio, both Baxter (BAX) at 1.15 and GE HealthCare (GEHC) at 1.72 are priced roughly in line with their industries — neither looks cheap nor rich on a sales basis.

BAX

Health Care Equipment & Services industry group

1.15

Max: 8.80
Q3: 4.32
Median: 2.13
BAX: 1.15
Q1: 1.10
Min: 0.03

GEHC

Health Care Equipment & Services industry group

1.72

Max: 8.80
Q3: 4.32
Median: 2.13
GEHC: 1.72
Q1: 1.10
Min: 0.03

Baxter (BAX) vs. GE HealthCare (GEHC): A comparison of their P/S ratio against the Health Care Equipment & Services industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Baxter (BAX) at 2.05 and GE HealthCare (GEHC) at 3.21 are valued close to their industries’ norm against book — neither stands out from peers.

BAX

Health Care Equipment & Services industry group

2.05

Max: 11.68
Q3: 6.12
Median: 3.00
BAX: 2.05
Q1: 1.73
Min: -1.31

GEHC

Health Care Equipment & Services industry group

3.21

Max: 11.68
Q3: 6.12
GEHC: 3.21
Median: 3.00
Q1: 1.73
Min: -1.31

Baxter (BAX) vs. GE HealthCare (GEHC): A comparison of their P/B ratio against the Health Care Equipment & Services industry group benchmark.

Valuation Metrics

Valuation metrics for Baxter (BAX) and GE HealthCare (GEHC)
Metric	BAX	GEHC
P/E Ratio (TTM)	--	17.42
P/S Ratio (TTM)	1.15	1.72
P/B Ratio (MRQ)	2.05	3.21
Free Cash Flow Yield (TTM)	9.16%	4.92%